MacroGenics (MGNX) Set to Announce Quarterly Earnings on Thursday

MacroGenics (NASDAQ:MGNX) is set to announce its earnings results after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.67) per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Thursday, March 7th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.49). MacroGenics had a negative return on equity of 88.49% and a negative net margin of 15.42%. The firm had revenue of $10.72 million for the quarter, compared to analysts’ expectations of $25.70 million. During the same quarter in the prior year, the business posted $0.21 earnings per share. On average, analysts expect MacroGenics to post $-3 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

MacroGenics Trading Down 2.0 %

Shares of NASDAQ:MGNX opened at $16.05 on Wednesday. MacroGenics has a 1 year low of $4.29 and a 1 year high of $21.88. The business has a fifty day simple moving average of $16.43 and a 200 day simple moving average of $12.59. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -100.31 and a beta of 2.09.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MGNX shares. JMP Securities reiterated a “market outperform” rating on shares of MacroGenics in a report on Thursday, April 4th. B. Riley initiated coverage on shares of MacroGenics in a research report on Friday, April 26th. They set a “buy” rating and a $25.00 target price on the stock. TheStreet downgraded shares of MacroGenics from a “c” rating to a “d” rating in a research report on Thursday, March 7th. BTIG Research increased their target price on shares of MacroGenics from $12.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Finally, TD Cowen raised shares of MacroGenics from a “hold” rating to a “buy” rating in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Insider Buying and Selling

In related news, VP Jeffrey Stuart Peters sold 51,395 shares of MacroGenics stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $15.55, for a total transaction of $799,192.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 11.30% of the stock is owned by company insiders.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.